Just uploaded a new working paper:

The Reproduction of Capitalismís Value System:
Environmental Policy and the Ideology of Growth

Environmental policy provides insight into how capitalismís value system operates in areas such as economic thinking, governance, and consumer behaviour. The response of government and industry towards climate change suggests that neither consumer capitalism nor its value system is going to undergo radical transformation in response to the climate crisis. This article explores the failure of environmental policy and suggests that the main intention behind past and current policy actions is the reproduction of dominant economic relations and consumer culture.

One of the first things that needs to be noted about climate crisis is that it has generated incontrovertible scientific verification of Ďa massive market failure.í For over 150 years the market operated in gross disregard of environmental costs and now those costs must be paid. Typically, fixing the environmental problems of capitalism is estimated to be just 1 to 2 per cent of annual global GDP. This low cost estimate serves the politically convenient objective of not raising undue concern about the status quo. On top of grossly underestimating the real costs of fixing the environment governments also grossly overstate policy goals and consistently fail to meet their stated climate change policies. Although there is considerable testimony regarding the failure of conventional environmental policy the concept of government failure Ďis almost entirely absent from the mainstream climate change policy literature.í Climate change is the result of market and government failures which have arisen out of the anti-environmental and anti-human characteristics of capitalismís value system . . .